Brazil’s economy shrank in February

Estimate-based indicator shows Gross Domestic Product (GDP) decreasing by 0.3% over January. In the three months through February, GDP went up.

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São Paulo – Brazil’s Gross Domestic Product (GDP) shrank by 0.3% in February from January, as per estimate-based indicator GDP Monitor, from Fundação Getulio Vargas (FGV). In the three months through February, GDP climbed 0.6% over the preceding three-month period.

The three months through February also saw GDP go up 1.7% from the year-ago period. FGV research coordinator Claudio Considera pointed out that rates exceed those of last year. He said the cyclical recovery lost steam in February.

Year-on-year in the three months through February, process industry activities were up 5.4%, with trade going up 4.7%. Activity slid in all other sectors of Brazilian industry.

With information from Agência Brasil.

Translated by Gabriel Pomerancblum

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